Riskified (NYSE:RSKD) Sees Unusually-High Trading Volume – Time to Buy?

Riskified Ltd. (NYSE:RSKD) saw strong trading volume on Wednesday . 179,707 shares traded hands during trading, a decline of 41% from the previous session’s volume of 305,455 shares.The stock last traded at $4.96 and had previously closed at $4.82.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. The Goldman Sachs Group dropped their target price on Riskified from $4.50 to $4.00 and set a “sell” rating for the company in a report on Monday, December 2nd. Keefe, Bruyette & Woods dropped their price objective on shares of Riskified from $5.50 to $5.25 and set a “market perform” rating for the company in a research note on Thursday, November 14th. DA Davidson raised shares of Riskified to a “hold” rating in a research note on Thursday, November 14th. UBS Group dropped their price target on shares of Riskified from $4.75 to $4.50 and set a “neutral” rating for the company in a research note on Thursday, November 14th. Finally, Piper Sandler reduced their price objective on shares of Riskified from $7.00 to $6.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $5.72.

Riskified Stock Performance

The company has a market capitalization of $884.24 million, a P/E ratio of -24.80 and a beta of 1.37. The company’s fifty day simple moving average is $4.74 and its 200-day simple moving average is $5.04.

Riskified (NYSE:RSKD) last issued its quarterly earnings data on Wednesday, November 13th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. The company had revenue of $78.80 million during the quarter, compared to the consensus estimate of $75.01 million. Riskified had a negative net margin of 10.72% and a negative return on equity of 6.00%. Riskified’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.12) earnings per share. On average, sell-side analysts predict that Riskified Ltd. will post -0.15 EPS for the current year.

Riskified declared that its board has approved a stock repurchase program on Wednesday, November 13th that permits the company to buyback $75.00 million in shares. This buyback authorization permits the company to reacquire up to 9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Institutional Trading of Riskified

Large investors have recently bought and sold shares of the stock. Harvey Partners LLC lifted its stake in shares of Riskified by 9.7% during the third quarter. Harvey Partners LLC now owns 3,227,500 shares of the company’s stock worth $15,266,000 after buying an additional 286,500 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in Riskified by 61.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 313,143 shares of the company’s stock worth $1,481,000 after acquiring an additional 119,038 shares during the period. State Street Corp boosted its position in Riskified by 0.9% in the third quarter. State Street Corp now owns 745,593 shares of the company’s stock valued at $3,527,000 after buying an additional 6,927 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of Riskified by 11.2% in the 3rd quarter. Jennison Associates LLC now owns 5,682,144 shares of the company’s stock valued at $26,877,000 after acquiring an additional 573,596 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in Riskified by 37.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,052,944 shares of the company’s stock valued at $4,980,000 after acquiring an additional 286,603 shares during the period. Hedge funds and other institutional investors own 58.98% of the company’s stock.

About Riskified

Riskified Ltd., together with its subsidiaries, develops and offers an e-commerce risk management platform that allows online merchants to create trusted relationships with consumers in the United States, Europe, the Middle East, Africa, the Asia-Pacific, and the Americas. It offers Chargeback Guarantee that ensures the legitimacy of merchants' online orders; Policy Protect, a machine learning solution designed to detect and prevent refund and returns policy abuse in real-time; Account Secure, a solution that cross-checks every login attempt; Dispute Resolve, which is used to compile submissions for fraud and non-fraud related chargeback issues; and PSD2 Optimize that helps merchants avoid bank authorization failures and abandoned shopping carts.